(Stock photo)

A new report on rental markets across Canada ranks Victoria as the 5th most expensive city in the country for renters.

The ranking, which was generated by rentals.ca using data from January 2021 to November 2021, compares the prices of one and two bedroom rental units in various cities. The data is then compared to a report published for the 2020 year.

(rentals.ca)

According to the report, the average cost of a 1 bedroom rental in Victoria in 2021 is $1,863/month. This is up 8.6% since October 2021 and a staggering 19.4% in the last year since October 2020. 

The average for a one bedroom in Canadian cities is $1,516 per month.

For a two bedroom rental, Victoria’s average price is $2,432 per month, up 1.6% from October 2021 and 18.2% since October 2020. 

According to the report, the average for a two bedroom across in Canada is $1,869.

Victoria falls fifth in the list of thirty five cities included on the National rent ranking, coming in behind Burlington, Oakville, Toronto and Vancouver which tops the list. 

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